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Wisconsin Introduces the 2010 Amendments to UCC Article 9

The Wisconsin Senate introduced legislation on Tuesday, January 31, 2012 to enact the 2010 Amendments to UCC Article 9.  Senate Bill 416 provides the Alternative A “Only If” approach for individual debtor name sufficiency in Section 9-503(a)(4), includes images of the 04/20.2011 version safe harbor forms in Section 9-521, and adopts the uniform effective date of July 1, 2013.  The bill does not appear to include any significant departures from the official text of the 2010 Amendments.

CSC will provide updates for any significant developments with SB 416 and all other state Article 9 legislation.